Impact of COVID-19 on GDP of UK Economy

Problem Based Report

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
Literature review.........................................................................................................................4
Identification of data set and methodology.................................................................................5
Quantitative analysis of the data set selected..............................................................................5
Visualisation of data....................................................................................................................7
Findings and conclusion..............................................................................................................9
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
GDP or Gross Domestic Product is being referred to as the standard measure relating to
the value added which is being created with the production process within economy. For the
country to grow and develop it is necessary that GDP must be increasing. But in the current
business environment the pandemic has affected the working of the companies to a great extent.
This is particularly because of the reason that due to COVID the businesses were shut and as a
result of this, the GDP and income of the company were also reduced. Thus, the present study
will outline the impact which the current pandemic has created over the GDP of the country.
This is essential for the reason that when the GDP will be decreasing then this will reduce the
working efficiency of the companies and overall country as well. Thus, the present study will
outline the impact whether positive or negative which the pandemic has created over working of
the country will be evaluated.
Research aim
“To analyse the impact of COVID 19 on the GDP of the UK economy”.
Research objectives
 To analyse the concept of GDP
 To evaluate the impact which are result of current pandemic over GDP.
 To examine the challenges which the country is facing due to COVID 19 in managing
and increasing GDP.
Research question
1. What is the concept of GDP and its significance?
2. What is the impact being created by the pandemic over country’s GDP?
3. What are the various challenges which UK economy is facing because of current
pandemic?
Rationale
For the country to operate in proper and effective manner it is essential that income of the
country must be growing. This is necessary because when the income of the country will not be
good then they will not be in position to operate in proper and effective manner. Thus, for
increasing the knowledge relating to the impact of pandemic over the working and operation of
the country. Also, this will increase the knowledge of all decision makers that how they need to
plan and make strategies for the effective working and increasing of GDP.